Horace Mann Retirement AdvantageTM

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I'm currently saving for retirement

Congratulations on saving for retirement. But figuring out exactly how much to save can be challenging. After all, how can you predict how much you’ll really need in the future? Rather than relying on a crystal ball, here’s a general rule of thumb.

It is estimated that you will need 70% to 80% of your current income to maintain a similar way of life after you retire. For example, if your annual salary is $50,000, you may need $35,000 to $40,000 a year in retirement to continue your existing lifestyle.

The amount you’ll need also depends on your living expenses and how you’ll spend your time. Ask these questions to estimate how much you may need:

  1. How many years do I have until I want to retire?
  2. What do I want to do in retirement?
  3. Will I receive Social Security benefits and how much will I get?
  4. Will I have other income (e.g., a pension plan, a part-time job, inheritance or home equity)?

Remember, the more you save, the better your chances of retiring comfortably.

If you'd like to increase your current contribution, you will need to complete a Salary Reduction Agreement through your employer.

To obtain a prospectus for investment options in Retirement Advantage, contact your Horace Mann Representative or click here.

The information provided here is for general information purposes only and should not be considered an individualized recommendation or personalized investment advice.

Horace Mann Investors, Inc. offers Horace Mann Retirement Advantage™ as 403(b), 457(b) and 401(a) investment options through accounts provided by MSCS Financial Services Division of Broadridge Business Process Outsourcing, LLC, a DE Limited Liability Company. Horace Mann Investors, Inc., member FINRA, is located at 1 Horace Mann Plaza, Springfield, IL 62715. You can receive prospectuses from your Horace Mann representative, by calling 877-602-1870 or by visiting horacemann.com/retirementadvantage. You should read the prospectuses carefully and consider the investment objectives, risks, charges and expenses carefully before you invest or send money. The prospectuses will provide complete information about these subjects. As with all securities, mutual funds involve a risk of loss, including a loss of principal.

Withdrawals from a 403(b), 457(b) and 401(a) account are restricted by the Internal Revenue Code and may be further restricted by your employer’s plan. Generally, you may make a withdrawal from a 403(b) account only upon reaching age 59½, severance from employment, disability or certain hardships (if allowed by the plan); a 457(b) account only upon reaching age 59½, severance from employment, disability or an unforeseeable emergency (if allowed by the plan); and a 401(a) account only upon reaching a specified age, severance from employment or disability. If you take money out before age 59½, you could be subject to a federal penalty tax of 10% (except for 457(b) accounts) in addition to income taxes. You should consult with a tax advisor regarding any tax-favored products.

Check the background of Horace Mann Investors Inc.

WBIA-0035 (Oct. 20)

Current clients: 800-677-2363
New enrollments: 844-895-0980

WBIA-0035 (Aug. 20)

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